The NPL ratio in Bulgaria's banking system decreased to 10.2% of the total loan portfolio as of end-December 2017, official data shows.
Bulgarian poultry producer Gradus has announced plans to raise 100 million levs (51.12 million euro) in an initial public offering (IPO) on the Bulgarian Stock Exchange (BSE). The offering expected in May is targeting not only local and international institutional investors but also retail investors. If the offering is successful to its upper limit, it will be the largest on the local market and the first of such scale since the beginning of the global financial crisis.
The listing will give an opportunity for diversification of BSE-traded stocks by adding a food production company.
market share of 35% in the poultry production business the company is №1 on the local market by branded product. Gradus is also the largest producer of fertilized eggs in Europe.
The group reported 200 million levs (102.25 million euro) in revenues and 34 million levs (17.38 million euro) in profit in 2017. The money raised from the IPO will be invested into utilizing the full capacity of the production facilities and in expanding the business.